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Just Where Was All This ‘Free Money’ the Pundits Keep Telling Us About?

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Just Where Was All This ‘Free Money’ the Pundits Keep Telling Us About?
U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul on Feb. 7, 2011. Lee Jae-won/Reuters
John Tamny
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Commentary

In his weekly Wall Street Journal column from last week, the great Daniel Henninger commented that “For 10 years money was virtually free.” Henninger was talking about the years before Fed Chairman Jerome Powell supposedly acted like an adult, only to institute “real-world interest rates.”

John Tamny
John Tamny
Author
John Tamny is editor of RealClearMarkets, vice president at FreedomWorks, a senior fellow at the Market Institute, and a senior economic adviser to Applied Finance Advisors (AppliedFinance.com). Among his books are “The Money Confusion: How Illiteracy About Currencies and Inflation Sets the Stage For the Crypto Revolution,” “When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason,” “They're Both Wrong: A Policy Guide for America's Frustrated Independent Thinkers,” “The End of Work,” and “Who Needs the Fed?”
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